Los Angeles Capital Management LLC Boosts Stock Position in Forestar Group Inc. (NYSE:FOR)

Los Angeles Capital Management LLC increased its position in Forestar Group Inc. (NYSE:FOR - Free Report) by 73.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,237 shares of the oil and gas exploration company's stock after buying an additional 26,360 shares during the quarter. Los Angeles Capital Management LLC owned 0.12% of Forestar Group worth $2,015,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Transcendent Capital Group LLC purchased a new position in shares of Forestar Group in the 1st quarter valued at approximately $32,000. CWM LLC raised its holdings in Forestar Group by 111.6% in the 2nd quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company's stock worth $34,000 after acquiring an additional 559 shares during the last quarter. Family Firm Inc. bought a new position in shares of Forestar Group during the second quarter valued at $34,000. EverSource Wealth Advisors LLC lifted its stake in Forestar Group by 115.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company's stock valued at $37,000 after acquiring an additional 495 shares during the period. Finally, nVerses Capital LLC boosted its holdings in shares of Forestar Group by 500.0% during the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the oil and gas exploration company's stock valued at $39,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 35.50% of the company's stock.

Forestar Group Price Performance

Shares of FOR traded up $0.09 during midday trading on Thursday, hitting $29.61. 149,131 shares of the company traded hands, compared to its average volume of 189,990. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 7.38 and a beta of 1.76. The firm has a 50 day moving average of $31.75 and a 200-day moving average of $31.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.61. Forestar Group Inc. has a 52 week low of $27.49 and a 52 week high of $40.92.

Forestar Group (NYSE:FOR - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.29. The business had revenue of $551.40 million during the quarter, compared to analysts' expectations of $503.76 million. Forestar Group had a return on equity of 13.59% and a net margin of 13.48%. The firm's revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the business posted $1.44 EPS. On average, analysts forecast that Forestar Group Inc. will post 3.67 EPS for the current fiscal year.

Insider Activity at Forestar Group

In other Forestar Group news, Director G.F. (Rick) Ringler III sold 2,000 shares of the business's stock in a transaction on Friday, September 27th. The shares were sold at an average price of $32.58, for a total transaction of $65,160.00. Following the transaction, the director now owns 5,951 shares in the company, valued at $193,883.58. The trade was a 25.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.49% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. BTIG Research lowered their target price on Forestar Group from $41.00 to $37.00 and set a "buy" rating on the stock in a report on Friday, July 19th. JPMorgan Chase & Co. lowered their price target on Forestar Group from $37.50 to $36.00 and set a "neutral" rating on the stock in a report on Thursday, July 25th.

About Forestar Group

Forestar Group Inc operates as a residential lot development company in the United States. The company acquires land and develops infrastructure for single-family residential communities. It sells its residential single-family finished lots to local, regional, and national homebuilders. The company was incorporated in 2005 and is headquartered in Arlington, Texas.